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Soybeans

cbot soybeans weeklyThe weekly continuation chart shows a very interesting picture with a long term resistance trend line that has its start at around 1765 in September 2012 when the bear market started and that descends via the 1500/1530 region during April/June 2014 to the 1185 level during June 2016. This line is significant because of the long period of time that is exists although the amount of times that it actually offered resistance to price is rather limited. There is a shorter resistance trend line that starts in June 2016 at 1185 and that leads to the 1170 level in January and February 2017. Between these two lines we have coloured a red triangle which is representing a strong resistance to price and which is found between, roughly, 1060 and 1085 during the coming week and of which the values gradually decline. The supportive forces on the chart are found in a trend line (displayed bold and in dash) that starts at around 855 during late February 2016 and leads up via the 935 level during September/October 2016. There is a shorter supportive trend line that starts at 935 in September 2016 and goes up via 990 during January 2017 and 1015 during last week. Between these two supportive lines we have coloured a green triangle which is representing a strong support to price and which is found between, roughly, 1000 and 1020 during the coming week. Hence, price currently finds itself between the proverbial ‘rock and a hard place’ and has to break either the, roughly 1070 resistance and the, roughly, 1015 support. We expect price to bounce a bit further between the two during the coming 1 to 2 weeks after which the pressure will have become too high which will result in a volatile outbreak either way. Taking the daily chart as well as the EW counting (not displayed) into account we have a slight preference for a solid move to the upside from here although we will need to wait for a confirmation from price after it broke through its resistance convincingly.
CBOT:ZS1!Long
by Remko
CBoT soybeansThe daily MAY17 chart shows that price of the May contract has been gradually moving up within the parallel lines of an ascending price channel that started during July/August 2016 and which took price up with the relevant supports and resistances. This chart clearly shows that price is moving in a short term uptrend with a long term downtrend. In other words: price is making a corrective move up within its long term bear move. With all the supportive spots on the lower boundary line of the price channel we have to assume that price will make a move up from here, same unless the contrary is proven. The EW count (not included in the chart) suggests that a wave 2 of (3) is complete and that we are now in a wave 3 of (3) which should take price initially to the upper boundary of the ascending price channel. We need to see confirmation of that during the coming week by price breaking the 1056 level to the upside after which we need to see the 1075 level broken to the upside so price still has quite some work to do before we can be certain of a solid move to the upside indeed but the picture favours the upside over the downside. A break below 1001 (marked with a green 1) would make us decide to abandon the favourable odds for a move to the upside. After price has broken the 1056 resistance to the upside we will trail our pivotal support to 1017 (marked with a green 2) and after price has broken the 1075 to the upside we will trail our pivotal support to 1028 (marked with a green 3).
CBOT:ZSK2017Long
by Remko
Soybeans Bullish Gartley and My Short Term ViewPlease keep in mind when reading all of my charts I am still a novice and have very much to learn! But I still enjoy sharing my thoughts and interacting with the community, so here it is: The trend seems to be up so I like looking for a buy. The bullish Gartley completes at 10.437. This may be located on the trendline depending on when it completes, but seems it will be a zone of support. Stop losses for this trade would be below the dashed red line around 10.374. Targets would be the .382 (breakeven and half position) and .618 (rest of position or trail stop loss) and aim for the top of the structure (green zone is an approximation). Should price come to the completion point of the pattern I will also check my indicators but as it looks now I believe I will take this trade. Note that a strong rise may form a bearish AB=CD patterns 10.85. I have linked an idea regarding this trade below. Please let me know what you think of this idea and share your views on Soybeans with me. If you have any constructive criticism I am certainly open to that too as I know I have a lot to learn. Cheers!
OANDA:SOYBNUSDLong
by SharkbaitAl
Soybeans: Potential Confluence of 2 Bearish AB=CD PatternsMy main idea here is to watch for weakness and short in the red area which is the completion of the two bearish AB=CD patterns shown in the chart. There is also a longer term downtrend line at this zone which would be a nice place to enter. At that point I will also look for divergence in my indicators, as well as check for any warning signs such as large bullish candles, etc. For this idea to play out Soybeans still has room to the upside but there is of course the possibility that these patterns do not complete. So for the shorter term I am watching for trade set-ups in either direction with a slightly bullish bias. Your comments and feedback are always welcome and appreciated.
OANDA:SOYBNUSDShort
by SharkbaitAl
Soybeans: My Long Term Perspective and Possible PatternsIn the chart are potential patterns which I have identified on the long term Soybeans chart. While only some or even none may complete I will be using this idea as a journal which I am planning to update every week or two regarding the patterns in the chart or any new patterns which I can identify. If the smallest AB=CD patterns shown fail the trendline will probably have also broken, which would suggest to me we could get enough bullish momentum to take us to the completion point of some of the larger patterns. I am very interested in seeing how this chart will play out. If you have any views on Soybeans please share it with me!
OANDA:SOYBNUSD
by SharkbaitAl
SOYBEAN MEAL TRIANGLE BREAKOUT IS VERY BULLISHSince october we have been moving in a sideway motion. I think this range is coming to an end. The bulls dried out the bears, and are now ready to take the price to the next level higher at 360. The impulsive breakout yesterday is paving the way for more gains to come. Note the bullish hidden divergence, which also shows the increasingly strong hand of the bulls and the RSI breakout. The seasonal pattern is also in favor of the bull side, from february until june is the best seasonal phase for soybean price pressure, so this might support this trade idea. I am personally looking for a small retracement towards 320 and will look at the lower timeframes for signs to enter with a stop at 310 and the plan is to trail this position towards 360. Please use proper risk management and dont risk too much. Best of luck.
SLong
by IamJeanPaul
1
CBoT SoybeansSoybeans: Price has developed an ascending channel during the past months with higher highs and higher lows. The latest EW count suggests that price is initiating a 3 of 3 wave which should make price a considerable move to the upside from here. Ideally, price would correct one more time to the lower and supportive line of the ascending price during next week where price should then find support at the 1020/1010  zone after which is can trade up with the 1100 mark as first target during the first half of January. The 1100 region will offer price some resistance and will probably cause a minot corrective move to the downside after which price can continue its move up towards substantial higher levels. If and when price would go down to the 985 level we will have to reconsider our bull scenario 
CBOT:ZSH2017Long
by Remko
Soybeans: A case for biggest trade since 2007I believe soybeans are staging to have the largest run up since 2007 Daily Since Sept, indicators (slow stoch, TSI, and RSI) have been diverging with price. Additionally, the 9 and 20 period EMA on price have crossed and turned up as well as crossing over the 50P EMA. In Oct, the ADX dropped below 0 signaling price consolidation. On 10/17, price broke through resistance pulling ADX and +DMI up over 20. However, how does this daily action fit within the context of the weekly and monthly charts? The daily chart is bullish but is it fighting bearish weekly and/or monthly charts or running with them. Weekly Coinciding with this bullish daily chart is a bullish weekly chart. Going back to Sept 2015, the ADX dropped below 20 signaling price consolidation and remained there thru Mar 2016. Once price broke above resistance, it carried up 2 1/2 months. During this time: RSI hit 80 (which is the overbought range for a bull trend) TSI hits 100 ADX hits 45 (I consider 40 to be overbought/sold on weekly chart) Since this high, price has spent remainder of 2016 correcting. Now, the weekly indicators have begun to turn positive Slow stoch has crossed and moved TSI has moved up and is sitting at 0. A break above 0 is bullish RSI was held at 40 which is bottom of range for a bull trend and has begun to move up ADX is still above 20 with +DMI crossing up over -DMI signaling a possible change in dominance Monthly The monthly chart is bullish too. Again, the Mar 2016 move pushed indicators positive with a strong change in dominance on ADX Slow stoch hit 80 and has pulled back during correction TSI moved over 50 and has now pulled back toward 0 RSI pulled back from 60 to 40 and now 9P EMA and 45P WMA have turned up. I believe this next run up will take monthly RSI to 80 ADX looks like another change in dominance may happen A green bar close above red resistance line will signal continuation of up trend Targets: 121x, 152x, and 179x 4H and 1H charts , I will be using the 4H and 1H charts to trigger an entry long for soybeans. For now, the key to watch is the 4H ADX. Recently, it hit 50 and held to the 27th of Oct. Now that it has started down, the -DMI has moved up. The other indicators have diverged with price and are moving down too. I'm looking for this corrective action to continue setting up the resistance line on the daily chart. Should these actions happen, I look for an entry when 4H indicators/price turn up and the daily resistance line has a green bar above it.
SLong
by mxb1961